Jack Dorsey NFT: Value Crashes Below $5

The staggering devaluation of Jack Dorsey's inaugural tweet NFT hits hard: snapped up for $2.9 million back in 2021, it now fetches less than $5, underscoring the brutal NFT market crash and volatile crypto asset valuation that has plagued the sector over the past year. This plunge mirrors broader crypto market trends, where even high-profile assets like those tied to Bitcoin (BTC) have faced relentless pressure, driving investors to reassess ETH price prediction strategies amid ongoing hype cycles.

On the technical front for ETH, price action on the 4-hour chart reveals a bullish structure holding firm, with the asset trading at $2347.61 just above the EMA50 support at $2324.61 and well clear of the EMA200 at $2270.69, signaling sustained upward momentum as the MACD flashes a golden cross at 0.43. Yet, with RSI at 58.49 in neutral territory and price probing the upper Bollinger Band resistance near $2348.72, we're eyeing potential exhaustion—expect a tactical pullback to test that EMA50 level before bulls regroup for another leg higher, especially if lower support at $2274.23 holds as confluence builds for continuation in this macro uptrend.